Global SOC as a Service Market Report and Forecast 2024-2032

Global SOC as a Service Market Outlook

The global SOC as a service market size reached approximately USD 5.86 billion in 2023. The market is estimated to grow at a CAGR of 10.7% in the forecast period of 2024-2032, reaching a value of around USD 14.88 billion by 2032.

Key Trends in the Market

SOC as a service (SOCaaS) is a security solution in which a third-party provider operates and manages the security operations centre (SOC) of an organisation. Under this solution, the external provider supervises all security tasks such as network monitoring, threat detection, as well as investigation of an attack, risk, and compliance, among others.

• The provision of scalability in SOCaaS, through which the services can be scaled depending upon the evolving needs of an organisation, is one of the crucial SOC as a service market trends. The scalability feature enables SOCaaS to accommodate more resources in times of need compared to the traditional model, which is constrained by its finite resources.

• SOCaaS also offer businesses access to high-end security solutions such as advanced threat detection, threat hunting, and breach and attack simulation, among others, for enhanced protection.

• The growing deployment of advanced technologies such as AI and machine learning into the SOCaaS model to analyse large volumes of data from multiple resources, identify patterns for possible threats and vulnerabilities, and make predictions based on those patterns also provides impetus to the SOC as a service market growth.

Market Analysis

Based on service type, the market is divided into threat detection and incident response, managed SIEM and log management, vulnerability scanning and assessment, and GRC. On the basis of application, the market is categorised into application security, network security, end point security, and cloud security.

Based on enterprise size, the market is bifurcated into small and medium enterprises and large enterprises. The SOC as a service market segmentation, on the basis of industry vertical, includes government and public sector, BFSI, IT and telecom, healthcare, government, and retail, among others. The major regional markets of SOC as a service include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the Soc as a service market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.

• AT&T Inc.  

• Thales SA  

• AIRBUS SE  

• Verizon Communications Inc.  

• Cloudflare, Inc.  

• Fortinet, Inc.

• Atos SE  

• Arctic Wolf Networks, Inc.  

• Check Point Software Technologies Ltd.  

• ProSOC, Inc. (Proficio)  

• Others

Market Share by Application

End point security occupies a significant portion of the SOC as a service market share. Endpoints are the entry points into any organisation’s network and are most vulnerable to cyber threats. SOCaaS offers facilities such as securing remote work devices, real-time monitoring, and rapid response to cyberattacks to mitigate the risk of security breaches at endpoints.

With the employment of more sophisticated and advanced attack methods by hackers, SOCaaS providers are enabling advanced detection abilities in end points of enterprises.

Market Share by Region

As per the SOC as a service market analysis, North America accounts for a substantial share of the global market, owing to the surging frequency of cyberattacks in the region. The rapid adoption of cloud-based technology in enterprises also makes them more vulnerable to outsider attacks, creating new opportunities for the market expansion.

Additionally, evolving security standards, coupled with the growing presence of key players that are strengthening their capabilities, offer a positive market outlook.

Competitive Landscape

Thales SA is a global technology company, founded in 2000, with its headquarters in Paris, France. The company offers devices and equipment for the aerospace, defence, security, and transportation sectors, among others.

AIRBUS SE, incorporated in 1970 and based in Occitania, France, is a primary provider of commercial aircraft. The company also offers tailor-made cybersecurity solutions to enterprises and critical infrastructure, among others.

Verizon Communications Inc., established in 1983, is a technology conglomerate, headquartered in New York, the United States. The company provides services such as 4G LTE, 5G, broadband and fibre, and managed security, among others.

Other SOC as a service market players include AT&T Inc., Cloudflare, Inc., Fortinet, Inc., Atos SE, Arctic Wolf Networks, Inc., Check Point Software Technologies Ltd., and ProSOC, Inc. (Proficio), among others.

Key Highlights of the Report